Barclays PLC v. Waggoner
1. Whether a defendant seeking to rebut the fraud-on-the-market presumption of reliance under Basic Inc. v. Levinson, 485 U.S. 224 (1988), has a burden of production or a burden of persuasion.
2. Whether plaintiffs may invoke the fraud-onthe-market presumption without direct evidence that the price of the security responded to new, material information during the class period.